In a devastating turn of events, over 4,000 users on the Solana blockchain have fallen victim to the Rainbow Drainer - Fake Airdrop scheme, resulting in collective losses nearing $4 million USD.
In a startling report by Scam Sniffer, a Web3 anti-scam entity, it has been estimated that scammers raked in over $4 million USD in December 2023, victimizing 4,000 wallets on the Solana network.
Sophisticated Solana Wallet Drainers Unleash Havoc Scam Sniffer's findings indicate that sophisticated Solana wallet drainers orchestrated a series of phishing attacks, pilfering over $4 million in assets and ensnaring nearly 4,000 users in the past month.
Rainbow Drainer: A Deceptive Airdrop Ploy The primary scam method identified is the Rainbow Drainer, where scammers organize fake airdrops to deceive victims into verifying transactions. Unwittingly, users grant control of their wallets to the attackers. Employing technology to conceal altered balances, hackers successfully siphoned $2.14 million from 2,189 wallets using this method.
Node Drainer: Exploiting Holiday Campaigns Another prevalent scam technique, known as Node Drainer, capitalizes on a Christmas campaign for phishing attacks. This approach resulted in a substantial haul of over $2 million from 1,700 individuals during the festive season.
Individual Wallets and Platform Targets Scam Sniffer reported that a single attacker's wallet managed to steal $1 million, subsequently swapping USDC for ETH through AllBridge. Unlike Ethereum, where hacks often stem from approval-related issues, Solana's fraudulent schemes primarily involve deceiving users into direct transfers. Despite Solana's transaction simulation support, hackers are increasingly deploying sophisticated tactics to bypass regulations and make victims more susceptible to traps.
Broader Crypto Industry Impact The report reveals that beyond individual wallets, blockchain platforms are also under attack by hackers using more complex techniques. According to De.Fi's report, the crypto industry witnessed a staggering loss of $1.95 billion in 2023 due to scams, hacks, and security attacks. These alarming statistics underscore the critical need for heightened vigilance and security measures within the crypto community.
